Cobalt Company News Directory

Global Cobalt Settles Debt

Global Cobalt Corp. (TSXV:GCO) announced that it has settled its debt with a creditor whereby the Company has agreed to issue an aggregate of 564,997 common shares at a deemed price of $0.05 per share. The transaction is subject to the approval of the TSX Venture Exchange.

Global Cobalt Performs Strategic Review of Properties and Projects

Global Cobalt Corp. (TSXV:GCO) directors have created an ad hoc committee for the strategic review of its existing properties and projects, business plan, development strategy and capital structure to ensure that shareholder value is protected. The Company is considering strategic and financial alternatives such as a settlement offer with Imperial Mining Holding Limited for the option agreement and loan agreement; an addition to portfolio of cobalt or strategic metals projects; and creating a new company focused on cobalt and other energy related metals. Global Cobalt cautions shareholders that there are no assurances or guarantees that discussions will result in any agreement.

Formation Metals Releases Letter to Shareholders

Formation Metals Inc. (TSX:FCO) provided shareholders with a year-end summary of developments, and plans for moving forward. A Preliminary Economic Assessment (PEA) on the Idaho Cobalt Project in Idaho is expected the the coming weeks, with the company anticipating that, "this report will demonstrate that the ICP has the potential to produce battery grade cobalt chemicals." Formation also reports a healthy cash position and no debt, "we have sufficient working capital to fund planned operations based on our current budget. In addition, the ICP's mine and mill site have been diligently maintained to ensure that the requirements of all the permitting agencies have been met and all necessary permits remain in good standing."

Global Cobalt Settles Debt

Global Cobalt Corp. (TSXV:GCO,OTCBB:GLBCF,FRA:3P0) reported the issuance of shares for debt settlements with certain creditors, three of whom are directors and/or officers of the Company. The Company issued 1,047,300 common shares at a price of $0.05 per share.

Formation Metals to Complete PEA Regarding Battery Grade Cobalt Chemicals

Formation Metals Inc. (TSX:FCO) reported that it is moving forward with pursuing several opportunities resulting from the significant increase in the long term demand for cobalt used in rechargeable batteries. So far, the company has conducted internal studies to determine the viability of producing battery grade cobalt chemicals, developed a new mine plan and produced updated economics for its Idaho project.